Business Services Industry

Cisco Moves To Brookfield's BCE Place

Business Wire, April 18, 2000

Business Editors

TORONTO--(BUSINESS WIRE)--April 18, 2000

Brookfield Properties Corporation (TSE:BPO.)(NYSE:BPO) today announced that Cisco Systems Canada Co. is relocating its Canadian headquarters to Brookfield's Bay Wellington Tower at Toronto's flagship BCE Place office complex in May of 2000.

David Arthur, President, Brookfield Canadian Commercial, stated that "the addition of Cisco as a major tenant at BCE Place is evidence of the attractiveness of this premier Canadian office complex to a diverse range of high quality tenants from growth industries including technology leaders like Cisco."

Cisco's Canadian headquarters will be located on three floors of BCE Place's Bay Wellington Tower. BCE Place is a two tower, 3.4 million square foot mixed-use office complex located in the heart of Toronto's financial district with ready access to Toronto's downtown amenities.

"The move to BCE Place is very exciting for Cisco Canada," said Pierre Paul Allard, general manager for Cisco Systems Canada Co. "It's a testament to our growth and success in Canada. We have more than doubled our employee base in the past year and expect that this success will continue. Not only will BCE Place give us room to grow, but it is a first class office facility. We have been impressed with the quality of the site and look forward to our tenancy."

About Brookfield Properties Corporation

Brookfield Properties Corporation owns and manages premier North American properties, operates real estate service businesses and develops master planned communities. The Brookfield portfolio includes 46 commercial properties totalling 34 million square feet, including landmark properties such as BCE Place in Toronto and the World Financial Center in New York. Brookfield is listed on the New York and Toronto Stock Exchanges under the symbol BPO. For more information, visit the Brookfield Properties website at www.brookfield.com.

About Cisco Systems Canada Co.

Cisco Systems - with $12 billion (US) in revenues and over 19,000 employees - is the worldwide leader in networking for the Internet. Established in 1990, Cisco Systems Canada employs over 500 Canadians and is headquartered in Toronto, with field sales and service offices across the country. In addition, Cisco also has a state-of-the-art development centre in Kanata, ON - focusing on the development of optical Internetworking solutions to build the next generation of the Internet backbone.

The Internet is changing the way people work, live, learn and play - and Cisco Systems Canada is a primary agent of this change and a compelling example of the power of this revolution. By widely deploying business solutions based on the Internet, Cisco Systems saves over $500 million (US) per year in operating costs, has grown revenues by 100% in two years and has increased customer satisfaction at the same time. Cisco produces networking solutions for enterprise organizations, service providers and small/emerging businesses. Additional information on the company and its products can be found at http://www.cisco.com/ca.>